Nearly three-quarters of renters stated they find it easy or very easy to pay their rent
Tenant satisfaction in the private rented sector remains high overall, in-depth figures from the latest English Housing Survey from the Ministry of Housing, Communities & Local Government (MHCLG) reveal.
Nearly 1 in every 5 (19%) households in England live in privately rented accommodation, the equivalent of some 4.5 million households.
It remains the country’s second largest housing tenure after owner-occupiers, which account for 64% or 14.8 million households in England, whilst 17% or 4 million live in social rented housing.
Responding to the survey, the vast majority of tenants in the country (84%) stated they were either satisfied or very satisfied with the home they currently rent, slightly below those who own their home outright (95%).
Renters spend an average of a third (33%) of their annual household income on renting, which includes housing benefits, with this rising to 42% for private renters in London.
Despite this being higher than social renters (28%) and owners with a mortgage (17%), the majority of tenants (71%) said they had no difficulties paying for their rent.
When stating their reasons for moving to a new rental property, most tenants (72%) that had been living in their current home for fewer than three years said they moved because they wanted to.
Employment was the main deciding factor for 18% of home moves, compared to moving to a better neighbourhood (16%) and a larger property (13%).
According to Rightmove’s latest index, demand for rented housing from tenants spiked in June as a direct result of the Tenant Fees Act.